Westar Plan Seems Strange:
Blast Oneok, Sell Back Stake

By

Andrew Caffrey Staff Reporter of The Wall Street Journal

Updated Aug. 16, 2002 12:01 a.m. ET

Westar Energy Inc. has a strange way of talking up a badly needed stock sale.

The junk-rated electric-utility company hopes to raise nearly $1 billion by selling its 45% stake in Oneok Inc., back to the Tulsa, Okla., gas company. Yet, ahead of any deal, Westar has blasted Oneok's management.